HomeMy WebLinkAbout2006CITY OF CHUBBUCK
AUDITED FINANCIAL STATEMENTS
FOR THE FISCAL YEARS ENDED SEPTEMBER 30, 2006 AND 2005
DEATON & COMPANY, CHARTERED
CITY OF CHUBBUCK, IDAHO
ANNUAL FINANCIAL REPORT
SEPTEMBER 30, 2006 AND 2005
TABLE OF CONTENTS
Page
Title Page 1
Table of Contents 2
Auditor's Reports
Independent Auditor's Report
3
Report on Internal Control Over Financial Reporting and on Compliance and
Other Matters Based on an Audit of Financial Statements Performed in
Accordance with Government Auditinq Standards
4
Financial Statements
Statements of Net Assets
5
Statements of Activities
6
Balance Sheets - Governmental Funds
7
Statements of Revenues, Expenditures, and Changes in Fund Balances -
Governmental Funds
g - 9
Statements of Net Assets - Proprietary Funds
10
Statements of Revenues, Expenses, and Changes in Net Assets -
Proprietary Funds
41
Statements of Cash Flows - Proprietary Funds
12
Notes to Financial Statements
13-22
Required Supplementary Information
23
Budgetary Comparison Schedule - General Fund
24
Budgetary Comparison Schedule - Development Fund
25
Notes to Required Supplementary Information
Other Supplementary Information
26
Combining Balance Sheet - Nonmajor Governmental Funds
27
Statement of Revenues, Expenditures, and Changes in Fund Balances -
Nonmajor Governmental Funds
28
Budgetary Comparison Schedule - Nonmajor Governmental Funds
29
DEATON & COMPANY, CHARTERED
Deaton & Company, Chartered
Certified Public Accountants
21.5 North 9th, Suite A
Pocatello, ID 83201-5278
(208)232-5825
Members or Idaho Society of Ccl I I I rod Public Accountants
Mcmheis of Amcricnn intiiiuitc of C.=Glicd Public Accnumnnrc
INDEPENDENT AUDITOR'S REPORT
To the City Council
City of Chubbuck, Idaho
IJ rpm ! ELrAk
it �u Vf No Ilk 2L 11L
t N AIL 0M
We have audited the accompanying financial statements of the governmental activities, the business -type activities,
each major fund, and the aggregate remaining fund information of City of Chubbuck as of and for the years ended
September 30, 2006 and 2005, which collectively comprise the City's basic financial statements as listed in the table of
contents. These financial statements are the responsibility of City of Chubbuck's management. Our responsibility is to
express opinions on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States of America.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement_ An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used
and significant estimates made by management, as well as evaluating the overall financial statement presentation. We
believe that our audit provides a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial
position of the governmental activities, the business -type activities, each major fund, and the aggregate remaining fund
information of the City of Chubbuck as of September 30, 2006 and 2005, and the respective changes in financial
position and cash flows, where applicable, thereof for the years then ended in conformity with accounting principles
generally accepted in the United States of America.
In accordance with Government Auditing Standards, we have also issued our report dated May 21, 2007, on our
consideration of the City's internal control over financial reporting and on our tests of its compliance with certain
provisions of laws, regulations, contracts, and grants. That report is an integral part of an audit performed in accordance
with Government Auditing Standards and should be read in conjunction with this report in considering the results of our
audit.
The required supplementary information is not a required part of the basic financial statements but is supplementary
information required by accounting principles generally accepted in the United States of America. We have applied
certain limited procedures, which consisted principally of inquiries of management regarding the methods of
measurement and presentation of the required supplementary information. However, we did not audit the information
and express no opinion on it.
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the
City of Chubbuck's basic financial statements. The combining and individual nonmajor fund financial statements are
presented for purposes of additional analysis and are not a required part of the basic financial statements. The
combining and individual nonmajor fund financial statements have been subjected to the auditing procedures applied in
the audit of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the
basic financial statements taken as a whole_
The City has not presented the required Management's discussion and analysis that accounting principles generally
accepted in the United States has determined is necessary to supplement, although not required to be part of, the basic
financial statements.
t
Pocatello, fdah
May 21, 2007
Deaton & Company, Chartered
Certified Public Accountants -
215 North 9th, Suite A
Pocatello, ID 83201-5278
(208) 232-5825
Members of Idaho Society of Certified Public Accountants
Members of American Institute of Certified Public Accountants
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER
MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS
To the City Council
City of Chubbuck, Idaho
We have audited the financial statements of the governmental activities, the business -type activities, each major fund,
and the aggregate remaining fund information of City of Chubbuck as of and for the years ended September 30, 2006
and 2005, which collectively comprise the City of Chubbuck's basic financial statements and have issued our report
thereon dated May 21, 2007. We conducted our audit in accordance with auditing standards generally accepted in the
United States of America and the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States.
Internal Control Over Financial Reoortin
In planning and performing our audit, we considered City of Chubbuck's internal control over financial reporting in order
to determine our auditing procedures for the purpose of expressing our opinions on the financial statements and not to
provide an opinion on the internal control over financial reporting. Our consideration of the internal control over financial
reporting would not necessarily disclose all matters in the internal control that might be material weaknesses. A material
weakness is a reportable condition in which the design or operation of one or more of the internal control components
does not reduce to a relatively low level the risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may occur and not be detected within a timely period by
employees in the normal course of performing their assigned functions. We noted no matters involving the internal
control over financial reporting and its operation that we consider to be material weaknesses.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether City of Chubbuck's financial statements are free of material
misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant
agreements, noncompliance with which could have a direct and material effect on the determination of financial
statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our
audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of
noncompliance or other matters that are required to be reported under Government Auditing Standards.
This report is intended for the information and use of management, City Council, and federal awarding agencies.
However, this report is a matter of public record and its distribution is not limited.
Pocatello, 1 ho
May 21, 2007
5
See accompanying notes to financial statements
DEATON & COMPANY, CHARTERED
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF NET ASSETS
SEPTEMBER 30, 2006
WITH COMPARATIVE TOTALS AT SEPTEMBER 30,
2005
Governmental
Business -type
Activities
Activities
2006
2005
ASSETS
Current assets
Cash
$ 1,190,462
$ 685,891 $
1,876,353
$ 732,651
Investments
224,956
-
224,956
1,237,108
Property taxes receivable
210,636
-
210,636
199,994
Intergovernmental receivables
184,306
-
184,306
176,160
Other accounts receivable
10,090
683,553
693,643
495,239
1,820,450
1,369,444
3,189,894
2,841,152
Noncurrent assets
Restricted assets
Employee benefit fund
261,073
-
261,073
165,382
Bond reserves
-
932,323
932,323
874,365
Water deposits
-
140,346
140,346
130,973
Note receivable - General fund
-
405,717
405,717
461,949
Capital assets
6,895,132
7,834,293
14,729,425
14,469,667
Accumulated depreciation
(4,049,346)
(3,722,958)
(7,772,304)
(7,386,756)
3,106,859
5,589,721
8,696,580
8,715,580
4,927,309
6,959,165
11,886,474
11,556,732
LIABILITIES
Current liabilities
Accounts payable
99,615
154,010
253,625
166,843
Accrued compensated absences
25,436
11,970
37,406
29,394
Current portion of bonds payable
-
170,000
170,000
160,000
Accrued bond interest
-
28,754
28,754
33,674
Current portion of long-term debt
46,195
13,260
59,455
95,784
Capital lease obligation
75,071
-
75,071
84,948
Payable from restricted assets -
Employee benefit fund
261,073
-
261,073
165,382
Water deposits
-
140,346
140,346
130,971
507,390
518,340
1,025,730
866,996
Noncurrent liabilities
Bonds payable
-
755,000
755,000
925,000
Note payable - Proprietary fund
359,522
-
359,522
415,754
Construction line of credit
-
340,899
340,899
354,159
Capital lease obligation
98,927
-
98,927
113,147
Accrued compensated absences
228,930
107,732
336,662
287,591
687,379
1,203,631
1,891,010
2,095,651
1,194,769
1,721,971
2,916,740
2,962,647
NET ASSETS
Invested in capital assets,
net of related debt
2,312,266
2,832,176
5,144,442
5,334,473
Restricted for bond service
-
932,323
932,323
874,365
Unrestricted
1,420,274
1,472,695
2,892,969
2,385,247
$ 3,732,540
$ 5,237,194 $
8,969,734
$ 8,594,085
5
See accompanying notes to financial statements
DEATON & COMPANY, CHARTERED
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF ACTIVITIES
YEAR ENDED SEPTEMBER 30, 2006
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2005
C
See accompanying notes to financial statements
DEATON & COMPANY, CHARTERED D
Program Revenues
2006
2005
Capital
Net
Net
Charges for
Grants and
(Expense)
(Expense)
Expenses
Services
Contributions
Revenue
Revenue
EXPENDITURES
General government
$ 179,445
$ 327,621
$ -
$ 148,176
$ (128,040)
Law enforcement
2,148,010
5,185
17,045
(2,125,780)
(1,928,293)
Fire control
872,176
138,651
231,325
(502,200)
(565,639)
Building inspection
138,923
-
-
(138,923)
178,331
Street
777,895
-
(777,895)
(704,148)
Parks and recreation
644,271
45,490
7,495
(591,286)
(464,995)
Health and welfare
11,585
-
-
(11,585)
(23,098)
Development fund
1,173,552
-
-
(1,173,552)
(1,440,319)
Other special revenue funds
97,044
-
98,028
984
(66)
6,042,901
516,947
353,893
(5,172,061)
(5,076,267)
Business -type activities
Utilities
3,838,000
3,882,168
-
44,168
(324,120)
$ 9,880,901
$ 4,399,115
$ 353,893
$ (5,127,893)
$ (5,400,387)
CHANGES IN NET ASSETS
General
Business -type
Activities
Activities
2006
2005
Net (expense)/revenue
$ (5,172,061)
$ 44,168
$ (5,127,893)
$ (5,400,387)
General revenues
General property taxes and sales tax
4,452,942
-
4,452,942
4,016,357
Franchise fees
173,551
-
173,551
154,208
Intergovernmental
605,362
-
605,362
595,217
Leases and rents
28,179
-
28,179
22,828
Interest income
57,436
74,276
131,712
83,745
Sale of assets
7,715
-
7,715
-
Other revenue
104,081
-
104,081
109,288
5,429,266
74,276
5,503,542
4,981,643
NET CHANGE IN NET ASSETS
257,205
118,444
375,649
(418,744)
BEGINNING NET ASSETS
3,475,335
5,118,750
8,594,085
9,012,829
ENDING NET ASSETS
$ 3,732,540
$ 5,237,194
$ 8,969,734
$ 8,594,085
C
See accompanying notes to financial statements
DEATON & COMPANY, CHARTERED D
CITY OF CHUBBUCK, IDAHO
BALANCE SHEETS
GOVERNMENTAL FUNDS
SEPTEMBER 30, 2006
WITH COMPARATIVE TOTALS AT SEPTEMBER 30, 2005
General
Fund
ASSETS
Other
Development Governmental
Fund Mimic
2006 2005
Cash
$ 85,964
$ 533,155 $ 571,343 $ 1,190,462
$ 451,205
Investments
154,646
- 70,310 224,956
761,877
Accounts receivable
10,090
- - 10,090
-
Property and sales taxes receivable
179,487
31,149 - 210,636
199,994
Intergovernmental receivables
184,306
- - 184,306
176,160
Restricted assets - cash
261,073
- - 261,073
165,382
329,929
$ 875,566
$ 564,304 $ 641,653 $2,081,523
$ 1,754,618
LIABILITIES
Accounts payable
$ 99,615
$ - $ -
$ 99,615
$ 62,581
Employee benefit fund
261,073
- -
261,073
165,382
Accrued compensated absences
25,436
- -
25,436
19,250
Deferred revenue
60,317
28,446 -
88,763
82,716
446,441
28,446 -
474,887
329,929
FUND BALANCES
Unreserved, reported in:
General fund
429,125
- -
429,125
476,969
Special revenue fund
-
535,858 641,653
1,177,511
947,720
429,125
535,858 641,653
1,606,636
1,424,689
$ 875,566
$ 564,304 $ 641,653
Amounts reported for governmental activities in the Statement of Net Assets
are different because:
Capital assets used in governmental activities are not financial resources and therefore
are not reported in the funds, net of accumulated depreciation of $4,049,346
Deferred tax revenue represents amounts that were not available to fund current
expenditures and therefore are not reported in the funds
Long-term liabilities are not due and payable in the current period and therefore are not
reported in the funds:
Remodel loan to sewer fund
Capital lease
Accrued compensated absences
Net assets of governmental funds
7
See accompanying notes to financial statements
2,845,786
2,824,274
88,763
82,716
(405,717)
(461,949)
(173,998)
(198,095)
(228,930)
(196,300)
$ 3,732,540
$ 3,475,335
DEATON & COMPANY, CHARTERED
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTALFUNDS
YEAR ENDED SEPTEMBER 30, 2006
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2005
REVENUES
General property taxes and sales tax
Franchise fees
Intergovernmental
Parks revenue
Licenses, permits and fines
Grants
Fire protection and prevention
Leases and rents
Interest income
Donations
Other revenues
EXPENDITURES
General government
Law enforcement
Fire control
Building inspection
Street
Parks and recreation
Health and welfare
Development fund
Street guarantee fund
General LID fund
Court fund
Parks Fund
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES
Proceeds from sale of assets
Transfers in (out)
NET CHANGE IN FUND BALANCES
BEGINNING FUND BALANCE
ENDING FUND BALANCE
Other
General Development Governmental
Fund Fund Funds 2006 2005
$3,197,644
$ 1,242,751
$ 6,500
$ 4,446,895
$4,019,868
173,551
-
-
173,551
154,208
605,362
-
-
605,362
595,217
45,490
-
-
45,490
46,163
332,807
-
-
332,807
387,055
255,864
-
-
255,864
124,009
138,651
-
-
138,651
269,946
28,179
-
-
28,179
22,828
13,016
21,455
22,965
57,436
40,592
-
-
98,028
98,028
120,850
8,527
35,657
59,897
104,081
109,288
4,799,091
1,299,863
187,390
6,286,344
5,890,024
128,779
-
-
128,779
149,750
2,114,640
-
-
2,114,640
1,944,476
1,028,598
-
-
1,028,598
867,771
138,923
-
-
138,923
149,327
777,590
-
-
777,590
703,519
651,434
-
-
651,434
513,082
11,585
-
-
11,585
23,098
-
1,165,895
-
1,165,895
1,539,655
-
-
72,434
72,434
2,700
-
-
-
188
-
-
2,610
2,610
50,768
-
-
22,000
22,000
67,260
4,851,549
1,165,895
97,044
6,114,488
6,011,594
(52,458) 133,968 90,346
171,856 (121,570)
10,090 - - 10,090 -
(2,555) 2,555 - - -
7,535 2,555 - 10,090 -
(44,923) 136,523 90,346 181,946 (121,570)
474,048 399,335 551,307 1,424,690 1,546,259
$ 429,125 $ 535,858 $ 641,653 $ 1,606,636 $ 1,424,689
(Continued)
8
See accompanying notes to financial statements
DEATON & COMPANY, CHARTERED
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
YEAR ENDED SEPTEMBER 30, 2006
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2005
2006 2005
Reconciliation of the change in fund balances - total governmental funds
to the change in net assets of governmental activities:
Net change in fund balances - total governmental funds $ 181,946 $ (121,570)
Amounts reported for governmental activities in the Statement of Activities are
different because:
Governmental funds report capital outlays as expenditures while governmental
activities report depreciation expense to allocate those expenditures over
the life of the assets:
Capital asset purchases capitalized
266,037
186,019
Depreciation expense
(242,150)
(246,788)
The net affect of sales transactions involving capital assets
(2,375)
-
Deferred revenues are not recorded as current period receipts
6,047
(3,511)
Repayment of debt principal is an expenditure in the governmental funds, but
the repayment reduces long-term liabilities in the Statement of Net Assets:
Capital lease obligation principal payments
80,330
71,122
Some expenses reported in the Statement of Activities do not require the use
of current financial resources and therefore are not reported as expenditures
in governmental fund:
Accrued compensated absences
(32,630)
(23,049)
Change in net assets
$ 257,205
$ (137,777)
See accompanying notes to financial statements
DEATON & COMPANY, CHARTERED
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF NET ASSETS
PROPRIETARY FUNDS
SEPTEMBER 30, 2006
WITH COMPARATIVE TOTALS AT SEPTEMBER 30, 2005
ASSETS
Current assets
Cash and cash equivalents
Investments
Accounts receivable
Noncurrent assets
Restricted assets
Bond reserves
Water deposits
Note receivable - General fund
Capital assets
Accumulated depreciation
LIABILITIES
Current Liabilities
Accounts payable
Accrued compensated absences
Current portion of bonds payable
Accrued bond interest
Current portion of long-term debt
Payable from restricted assets -
Water deposits
Noncurrent Liabilities
Bonds payable
Construction line of credit
Compensated absences
NET ASSETS
Invested in capital assets,
net of related debt
Restricted for bond service
Unrestricted
2006
$ 685,891 $ 281,446
- 475,231
683,553 495,239
1,369,444
932,323
140,346
405,717
7,834,293
(3,722,958)
5,589,721
$ 6,959,165
$ 154,010
11,970
170,000
28,754
13,260
140,346
518,340
755,000
340,899
107,732
1,203,631
$ 1,721,971
$ 2,832,176
932,323
1,472,695
$ 5,237,194
10
See accompanying notes to financial statements
874,365
130,973
461,949
7,777,572
(3,518,935)
5,725,924
$ 6,977,840
$ 104,262
10,144
160,000
33,674
49,589
4 � n n-
925,000
354,159
! 4 �
$ 1,859,090
$ 3,124,048
874,365
1,120,337
$ 5,118,750
DEATON & COMPANY, CHARTERED
CITY OF CHUSBUCK, IDAHO
STATEMENTS OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS
PROPRIETARY FUNDS
YEAR ENDED SEPTEMBER 30, 2006
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2005
2006 2005
OPERATING REVENUES
Service revenue $ 2,957,168
$ 2,252,244
Revenue used as security for revenue bond:
Charges for services 925,000 1,085,000
3,882,168 3,337,244
OPERATING EXPENSES
Salaries and wages
907,993
843,986
Personnel benefits
418,991
408,164
Repairs and maintenance
544,205
410,288
Supplies
163,887
286,434
Travel, meetings, and training
12,133
11,925
Fuels and lubricants
34,773
45,003
Telephone and communications
12,492
11,550
Utilities
96,962
102,338
Treatment - Pocatello
660,854
569,099
Sanitation contract
573,538
562,424
Insurance
83,025
58,979
Other purchased services
37,653
84,512
Facilities plan
16,088
6,621
Depreciation
204,023
189,393
3,765,617
3,590,716
OPERATING INCOME
116,551
(253,472)
NONOPERATING REVENUE (EXPENSE)
Interest income
74,276
43,153
Interest expense
(72,383)
(70,648)
1,893
(27,495)
NET INCOME (LOSS)
118,444
(280,967)
BEGINNING NET ASSETS
5,118,750
5,399,717
ENDING NET ASSETS
$ 5,237,194
$ 5,118,750
11
See accompanying notes to financial statements
DEATON & COMPANY, CHARTERED
CITY OF CHUBBUCK, IDAHO
STATEMENTS OF CASH FLOWS - PROPRIETARY FUNDS
YEAR ENDED SEPTEMBER 30, 2006
WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 2005
CASH FLOWS FROM OPERATING ACTIVITIES
2006
2005
Cash received from revenues
$ 3,693,854
$ 3,315,528
Cash paid to suppliers and employees
(3,493,579)
(3,350,126)
Change in water deposits
9,375
11,906
Interest income
74,276
43,153
Interest expense
(77,303)
(75,148)
Net cash provided by (used in) operating activities
206,623
(54,687)
CASH FLOW FROM NONCAPITAL FINANCING ACTIVITIES
(188,314)
(21,716)
Change in restricted cash
(67,331)
(14,145)
Net cash used in Noncapital financing activities
(67,331)
(14,145)
CASH FLOW FROM CAPITAL AND RELATED
18,267
10,585
FINANCING ACTIVITIES
(4,920)
(4,500)
Capital expenditures
(56,721)
(405,027)
Net cash used in capital and related financing activities
(56,721)
(405,027)
CASH FLOW FROM INVESTING ACTIVITIES
Cash from reclassification of investments
475,231
138,243
Amount received on note
56,232
403,748
Note payments
(49,589)
-
Bond principal payments
(160,000)
(150,000)
Net cash provided by financing activities
321,874
391,991
NET DECREASE IN CASH AND CASH EQUIVALENTS
404,445
(81,868)
BEGINNING CASH AND CASH EQUIVALENTS
281,446
363,314
ENDING CASH AND CASH EQUIVALENTS
$ 685,891
$ 281,446
RECONCILIATIONS OF NET INCOME TO NET CASH
PROVIDED BY OPERATING ACTIVITIES
NET
2006
2005
NET INCOME
$ 118,444
$ (280,967)
ADJUSTMENTS TO RECONCILE
NET INCOME TO NET CASH
PROVIDED BY OPERATING ACTIVITIES
Depreciation
204,023
189,393
(Increase) decrease in assets
Accounts receivable
(188,314)
(21,716)
Increase (decrease) in liabilities
Accounts payable
49,748
40,612
Accrued compensated absences
18,267
10,585
Accrued bond interest
(4,920)
(4,500)
Water deposits payable
9,375
11,906
Total adjustments
88,179
226,280-
26 280
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES $ 206,623 $ (54,687)
12
See accompanying notes to financial statements
DEATON & COMPANY, CHARTERED
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 1 OF 10)
NOTE 1 - Summary of Significant Accounting Policies
The City's financial statements comply with generally accepted accounting principles (GAAP). GAAP
includes all relevant Governmental Accounting Standards Board (GASB) pronouncements. In the
government -wide financial statements and the fund financial statements for the proprietary funds,
Financial Accounting Standards Board (FASB) pronouncements and Accounting Principles Board (APB)
opinions issued on or before November 30, 1989, have been applied unless those pronouncements
conflict with or contradict GASB pronouncements, in which case, GASB prevails. For enterprise funds,
GASB Statement Nos. 20 and 34 provide the City the option of electing to apply FASB pronouncements
issued after November 30, 1989. The City has elected not to apply those pronouncements. The
accounting and reporting framework and the more significant accounting policies are discussed in
subsequent subsections of this Note.
A. Reporting Entity
The City's financial reporting entity comprises the following:
Primary Government
In determining the financial reporting entity, the City complies with the provisions of GASB Statement No.
14, "The Financial Reporting Entity". Currently, the City has no potential component units.
B. Basis of Presentation
Government -wide Statements
The Statement of Net Assets and Statement of Activities display information about the reporting
government as a whole. They include all funds of the reporting entity except for fiduciary funds. The
statements distinguish between governmental and business -type activities. Governmental activities
generally are financed through taxes, intergovernmental revenues, and other non-exchange revenues.
Business -type activities are financed in whole or in part by fees charged to external parties for goods or
services.
Fund Financial Statements
Fund financial statements of the reporting entity are organized into funds, each of which is considered to
be separate accounting entities. Each fund is accounted for by providing a separate set of self -balancing
accounts that constitute its assets, liabilities, fund equity, revenues, and expend iturelexpenses. Funds
are organized into three major categories: Governmental, proprietary, and fiduciary. An emphasis is
placed on major funds within the governmental and proprietary categories. A fund is considered major if
it is the primary operating fund of the City or meets the following criteria:
Total assets, liabilities, revenues or expenditures/expenses of that individual governmental or
enterprise fund are at least 10 percent of the corresponding total for all funds of that category
or type.
Total assets, liabilities, revenues, or expend itures/expenses of the individual governmental
fund or enterprise fund are at least 5 percent of the corresponding total for all governmental
and enterprise funds combined.
13
DEATON & COMPANY, CHARTERED
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 2 OF 10)
NOTE 1 - Summary of Significant Accounting Policies (Continued)
B. Basis of Presentation (Continued)
Governmental Funds
General Fund
The General Fund is the general operating fund of the City and is always classified as a major fund. All
financial resources, except those required to be accounted for in another fund, are accounted for in the
General Fund.
Special Revenue Funds
Special Revenue Funds are used to account for the proceeds of specific revenue sources that are legally
restricted to expenditures for specific purposes.
Proprietary Funds
Enterprise Funds
Enterprise funds are used to account for business4ihe activities provided to the general public. These
activities are financed primarily by user charges and the measurement of financial activity focuses on net
income measurement similar to the private sector. The reporting entity includes the water, sewer and
sanitation funds.
C. Measurement Focus and Basis of Accounting
Measurement focus is a term used to describe "which" transactions are recorded within the various
financial statements. Basis of accounting refers to "when" transactions are recorded regardless of the
measurement focus applied.
Measurement Focus
On the government -wide Statement of Net Assets and the Statement of Activities, both governmental
and business -like activities are presented using the economic resources measurement focus as defined
in item b. below.
In the fund financial statements, the "current financial resources" measurement focus or the "economic
resources" measurement focus is used as appropriate:
a. All governmental funds utilize a "current financial resources" measurement focus. Only current
financial assets and liabilities are generally included on their balance sheets. Their operating
statements present sources and uses of available spendable financial resources during a given
period. These funds use fund balance as their measure of available spendable financial
resources at the end of the period.
b. The proprietary fund utilizes an "economic resources" measurement focus. The accounting
objectives of this measurement focus are the determination of operating income, changes in
net assets (or cost recovery), financial position, and cash flows. All assets and liabilities
(whether current or noncurrent) associated with their activities are reported. Proprietary fund
equity is classified as net assets.
14
DEATON & COMPANY, CHARTERED
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 3 OF 10)
MOTE 1 - Summary of Significant Accounting Policies (Continued)
C. Measurement Focus and Basis of Accounting (Continued)
Basis of Accounting
In the government -wide Statement of Net Assets and Statement of Activities, both governmental and
business -like activities are presented using the accrual basis of accounting. Under the accrual basis of
accounting, revenues are recognized when earned and expenses are recorded when the liability is
incurred or economic asset used, Revenues, expenses, gains, losses, assets, and liabilities resulting
form exchange and exchange -lime transactions are recognized when the exchange takes place.
In the fund financial statements, governmental funds are presented on the modified accrual basis of
accounting. Under this modified accrual basis of accounting, revenues are recognized when
"measurable and available." Measurable means knowing or being able to reasonably estimate the
amount. Available means collectible within the current period or within sixty days after year end.
Expenditures (including capital outlay) are recorded when the related fund liability is incurred, except for
general obligation bond principal and interest which are reported when due.
All proprietary funds utilize the accrual basis of accounting. Under the accrual basis of accounting,
revenues are recognized when earned and expenses are recorded when the liability is incurred or
economic asset used.
D. Budgets and Encumbrances
Budgets are adopted on a basis consistent with generally accepted accounting principles. Annual
appropriated budgets are adopted for the general and special revenue funds. All annual appropriations
lapse at fiscal year end.
Each month the City prepares a financial report that reflects the actual and budgeted financial data. A
strict purchase order system is used in controlling and maintaining expenditures within budget
categories. This data is reviewed by the City Council. The City does not use the encumbrance method
of accounting.
The General Fund incurred expenditures in excess of appropriations of the following amounts for the
year ended:
Fire control
$
3,623
Building inspection
$
2,947
Street
$
65,296
Parks and recreation
$
80 ,548
Street guarantee fund
$
56,934
The excess expenditures were provided by available fund balance in the fund.
E. Cash and Investments
For the purpose of the Statement of Net Assets, "cash" includes all demand, savings accounts, and
certificates of deposits of the City. For the purpose of the proprietary fund Statement of Cash Flows,
"cash and cash equivalents" include all demand and savings accounts, and certificates of deposit or
short-term investments with an original maturity of three months or less.
Ilk,
DEATON & COMPANY, CHARTERED
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL. STATEMENTS (PAGE 4 OF 10)
NOTE 1 - Summary of Siqnificant Accounting Policies (Continued)
E. Cash and Investments (Continued)
Investments are carried at fair value except for short-term U.S. Treasury obligations with a remaining
maturity at the time of purchase of one year or less.
Fair value is based on quoted market price.
F. Property, Plant, and Equipment
Those investments are reported at amortized cost.
The accounting treatment for property, plant and equipment depends on whether the assets are used in
governmental fund operations or proprietary fund operations and whether they are reported in the
government -wide or fund financial statements.
Government -wide Statements
In the government -wide financial statements, fixed assets are accounted for as capital assets. All fixed
assets are valued at historical cost, or estimated historical cost if actual is unavailable, except for
donated fixed assets which are recorded at their estimated fair value at the date of donation. Estimated
historical cost was used to value the majority of the assets acquired prior to September 30, 2003.
Governmental fund infrastructure assets were not capitalized prior to October 1, 2003.
Depreciation of all exhaustible fixed assets is recorded as
Activities, with accumulated depreciation reflected in the
provided over the assets' estimated useful lives using the
range of estimated useful lives by type of asset is as follows:
Buildings
Other structures
Vehicles
Equipment
Fund Financial Statements
an allocated expense in the Statement of
Statement of Net Assets. Depreciation is
straight-line method of depreciation. The
20-50 years
5-40 years
5-30 years
2-40 years
In the fund financial statements, fixed assets used in governmental fund operations are accounted for as
capital outlay expenditures of the governmental fund upon acquisition. Fixed assets used in proprietary
fund operations are accounted for the same as in the government -wide statements.
Restricted Assets
Restricted assets include cash and investments of the general fund that are legally restricted as to their
use. The primary restricted assets are related to employee benefits.
Restricted assets include cash and investments of the proprietary fund that are legally restricted as to
their use. The primary restricted assets are related to utility deposits.
G. Long-term Debt
The accounting treatment of long-term debt depends on whether the assets are used in governmental
fund operations or proprietary fund operations and whether they are reported in the government -wide or
fund financial statements.
Ire
DEATON & COMPANY, CHARTERED
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 5 OF 10)
NOTE 1 - Summary of Significant Accounting Policies (Continued)
G. Long-term Debt (Continued)
All long-term debt to be repaid from governmental and business -type resources are reported as liabilities
in the government -wide statements. The long-term debt consists primarily of notes payable, capital
leases, and accrued compensated absences.
Long-term debt for governmental funds is not reported as liabilities in the fund financial statements. Debt
proceeds are reported as other financing sources. Payment of principle and interest are reported as
expenditures. The accounting for proprietary funds is the same in the fund statements as it is in the
government -wide statements.
H. Compensated Absences
The City's policies regarding vacation time permit employees to accumulate earned but unused vacation
leave. The liability for these unpaid compensated absences is recorded as long-term debt in the
government -wide statements. The current portion of this debt is estimated based on historical trends. In
the fund financial statements, governmental funds report only the compensated absence liability payable
from expendable available financial resources, while the proprietary funds report the liability as it is
incurred.
Equity Classifications
Government -wide Statements
Equity is classified as net assets and displayed in three components:
a. Invested in capital assets, net of related debt - Consists of capital assets including restricted
capital assets, net of accumulated depreciation and reduced by the outstanding balances of
any bonds, mortgages notes, or other borrowings that are attributable to the acquisition,
construction, or improvement of these assets.
b. Restricted net assets - Consists of net assets with constraints placed on the use either by (1)
external groups such as creditors, grantors, contributors, or laws or regulations of other
governments; or (2) law through constitutional provisions or enabling legislation.
C. Unrestricted net assets - All other net assets that do not meet the definition of "restricted" or
"invested in capital assets, net of related debt."
Fund Statements
Governmental fund equity is classified as fund balance. Fund balance is further classified as reserved
and unreserved. Unreserved can be further split between designated and undesignated. Proprietary
fund equity is classified the same as in the government -wide statements.
J. Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles
requires the City to make estimates and assumptions that affect certain reported amounts and
disclosures. Accordingly, actual results could differ from those estimates.
17
DEATON & COMPANY, CHARTERED
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 6 OF 10)
NOTE 2 - Legal Compliance - Budgets
Approximately six to seven months before the start of a new fiscal year, the City's financial officer
submits to the City Council a proposed operating budget for the fiscal year commencing the following
October 1. The budget is prepared by fund, function and activity, and includes information on the past
year, current year estimates and requested appropriations for the next fiscal year.
The City Council holds public hearings and may add to, subtract from or change appropriations, but may
not change the form of the budget. Any changes in the budget must be within the revenues and reserves
estimated as available to the City or the revenue estimates must be changed by an affirmative vote of a
majority of the City Council. After public hearings and before the end of the fiscal year, the City Council
formally adopts the budget.
Expenditures may not legally exceed budgeted appropriations at the activity level. During the year,
several supplementary appropriations may be necessary.
NOTE 3 - Restricted Assets and Payable from Restricted Assets
Assets have been set aside for special items and are restricted for that purpose. To date cash has been
restricted for the following items:
Governmental
Health insurance deposit
$ 261,073
The Health Insurance Deposit account is restricted for payments of insurance premiums and claims.
Proprietary
Bond reserves
Water deposits
Total
$ 932,323
140,346
$ 1,072,669
Bond reserves are amounts the City is legally required to reserve for the repayment of outstanding
bonds.
Water deposits are collected from individuals who have a history of collection problems. Money on
deposit may be used to pay past due balances or is returned when the payer's payment history improves.
NOTE 4 - Property Tax
Bannock County has the responsibility of assessing and collecting all property taxes. Taxes levied for
the year are payable in two installments due December 20th of the current year and June 20th of the
following year. The County remits property taxes collected to the City monthly.
Property taxes are recognized as revenue when received for monthly reporting purposes. At year end,
an accrual is made to recognize property taxes receivable at year end. At year end, $210,636 in
outstanding property taxes were expected to be collected and remitted by the County.
18
DEATON & COMPANY, CHARTERED
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 7 OF 10)
NOTE 5 - Cash and Cash Equivalents and Investments
Deposits at year end consist of the following:
Deposits
Cash in bank
Restricted
$
426,047
Unrestricted
1,876,353
$
2,302,400
Investments
State of Idaho Investment Pool
Fair Value
Restricted
$
907,695
Unrestricted
224,956
$
1,132,659
Bank Deposits - Custodial Credit Risk for deposits is the risk that, in the event of bank failure, the
government's deposits may not be returned to it. At year end the carrying amount of the City's deposits
(cash and certificates of deposit) was $2,302,400 and the bank balance was $2,503,970. The deposits
were covered by federal depository insurance of $100,000 per bank. The City uses various commercial
banks to limit their exposure to custodial credit risk, however, the City's deposits in the bank at
September 30, 2006 exceeded the federal depository insurance in the amount of $2,199,432.
Investments - The elected State Treasurer, following Idaho Code, is authorized to sponsor an
investment pool (Pool) that the City voluntarily participates in. The Pool is not registered with the
Securities and Exchange Commission or any other regulatory body. Oversight of the investment pool is
performed by the State Treasurer. Idaho Code defines allowable investments. The fair value of the
City's position in the Pool is the same as the value of the Pool. The value of the Pool is not identified with
specific investments and is not subject to custodial credit risk. The City's other deposits are stated at fair
value which is the amount an investment could be exchanged between willing parties.
Interest Rate Risk is the risk that changes in interest rates will adversely affect the value of a deposit.
The City manages its exposure to declines in fair value by limiting the average maturity of its deposits to
one year or less, or redeemable on demand with no penalty.
Credit Risk is the risk that an issuer or a counterparty to a deposit will not fulfill its obligations. The City
seeks to minimize credit risk through diversification of deposits within the choices allowed under state
statutes.
Concentration of Credit Risk is the risk of loss attributed to the magnitude of an investment in a single
issuer. Exclusive of the State of Idaho Investment Pool, the City's deposits in any one issuer does not
represent a concentration of total credit risk. The funds in the State of Idaho Investment Pool are in a
variety of investments which are required to have an A quality credit rating or better.
NOTE 6 - Concentration of Credit Risk
The City is subject to credit risk on deposits with banks that exceed the FDIC maximum insured balance
amount.
Additionally, the City grants credit to customers in the City for utility service. This extension of credit
potentially subjects the City to credit risk.
19
DEATON & COMPANY, CHARTERED
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 8 OF 10)
NOTE 7 - Changes in Fixed Assets
A summary of general fixed assets at year end is as follows:
A summary of proprietary type fixed assets at year end is as follows
Land
Office Equipment
Buildings and Improvements
Vehicles and Equipment
Accumulated Depreciation
Beginning
Balance Additions Deletions
$ 263,112 $
Beginning
162,405
-
Ending
6,573
Balance
Additions
Deletions
Balance
Land
$ 62,404
$ -
$ -
$ 62,404
Office Equipment
215,212
-
-
215,212
Buildings and Improvements
2,595,165
47,120
-
2,642,285
Vehicles and Equipment
3,819,314
218,917
(63,000)
3,975,231
6,692,095
266,037
(63,000)
6,895,132
Accumulated Depreciation
3,867,821
242,150
(60,625)
4,049,346
$ 2,824,274
$ 23,887
$ (2,375)
$ 2,845,786
A summary of proprietary type fixed assets at year end is as follows
Land
Office Equipment
Buildings and Improvements
Vehicles and Equipment
Accumulated Depreciation
Beginning
Balance Additions Deletions
$ 263,112 $
-
162,405
-
6, 564,119
6,573
787,936
51,148
7,777,572
56,721
3,518,935
204,023
$ 4,258,637 $ (147,302)
NOTE 8 - Long-term Debt and Accrued Compensation
Accrued Compensated Absences:
Current portion
Noncurrent portion
Long-term Debt
Ending
Balance
$ 263,112
162,405
6,569,692
839.084
- 3,722,958
$ - $ 4,111,335
Governmental Business -type
$ 25,436 $ 11,970
228,930 107,732
$ 254,366 $ 119,702
The City's long-term debt is segregated between the amounts to be repaid from governmental activities
and amounts to be repaid from business -type activities.
Governmental Activities:
As of year end, the governmental long-term debt of the City consisted of the following:
20
DEATON & COMPANY, CHARTERED
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 9 OF 10)
NOTE 8 - Long-term Debt and Accrued Compensation (Continued)
Capital Lease Obligation:
Fire Engine capital lease; issue amount $194,190; dated March
7, 2001; interest rate of 5.75% with final maturity dated March 8,
2007. $ 37,120
Telephone System capital lease; issue amount $30,986; dated
May 30, 2003; interest rate of 4.25% with final maturity dated
September 30, 2007. 12,818
Backhoe capital lease; issue amount of $97,740; dated
November 12, 2003; interest rate of 3.6% with final maturity
dated November 12, 2008. 63,209
Police Video System capital lease; issue amount of $60,851;
dated September 25, 2006; interest rate of 5.7% with final
maturity dated February 15, 2009. 60,851
173,998
Less current portion 75,071
Noncurrent portion $ 98,92
Note Payable
The General fund entered into a note payable with the utility fund dated July 15, 2005 with 0% interest
and $46,195 paid annually, over a 10 -year period.
Current portion
Noncurrent portion
Business -type activities:
$ 46,195
359,522
$ 405,717
At yearend, the City refinanced the construction line of credit with an interest rate of 3.25% and semi-
annual payments for 20 years.
Current portion
Noncurrent portion
$ 13,260
340,899
$ 354,159
The City issued two utility bonds. On October 1, 1972 the City issued its Sewer Revenue Bonds, at
5.425% and mature on October 1, 2013. The Water Fund Certificate was issued in May of 1995 with
interest rates up to 7.25% and a maturity date of April 1, 2010.
Bonds Payable:
Sewer Revenue Bond
$ 375,000
Water Fund Certificates
550,000
925,000
Less current portion
170,000
Noncurrent portion
$ 755,000
21
DEATON & COMPANY, CHARTERED
CITY OF CHUBBUCK, IDAHO
NOTES TO FINANCIAL STATEMENTS (PAGE 10 OF 10)
NOTE 8 - Long-term Debt and Accrued Compensation (Continued)
Annual Debt Service Requirements
Year Ending
September 30
2007
2008
2009
2010
2011
2012-2016
2017-2021
2022-2026
NOTE 9 - Pension Disclosures
Governmental Activities
_ Principal Interest
$ 121,266 $ 6,362
83,862 4,482
107,455 2,660
46,195
46,195
174,742
Business -type Activities
Principal
Interest
$ 183,260
$ 67,561-
193,694
56,552
204,143
44,680
219,607
32,107
70,085
18 728
208,171 47,795
- 97,719 25,598
- - 102,480 8,505
$ 579,715 $ 13,504 –T-1,279,159 $ 301,526
The Public Employee Retirement System of Idaho (PERSI), a cost sharing multi-employer public
retirement system, was created by the Idaho State Legislature. It is a defined benefit plan requiring that
both the member and the employer to contribute. The plan provides benefits based on members' years
of service, age, and compensation. In addition, benefits are provided for disability, death, and survivors
of eligible members or beneficiaries. The authority to establish and amend benefit provisions is
established in Idaho Code. Designed as a mandatory system for eligible state and school district
employees, the legislation provided for other political subdivisions to participate by contractual agreement
with PERSI. Financial reports for the plan are available from PERSI upon request.
After 5 years of credited service, members become fully vested in retirement benefits earned to date.
Members are eligible for retirement benefits upon attainment of the ages specified for their employment
classification. For each month of credited service, the annual service retirement allowance is 2.0%
(2.3% policelfirefighter) of the average monthly salary for the highest consecutive 42 months.
The contribution requirements of the City of Chubbuck and its employees are established and may be
amended by the PERSI Board of Trustees. For the year ended September 30, 2006 the required
contribution rate as a percentage of covered payroll for members was 6.23% for general members and
7.65% for police/firefighters. The employer rate as a percentage of covered payroll was 10.39% for
general members and 10.73% for police/firefighter members. The City of Chubbuck contributions
required and paid were $302,324, $484,641, and $215,956, for the three years ended September 30,
2006, 2005, and 2004 respectively.
NOTE 10 - Risk Management
The City is exposed to various risks of loss. The City has obtained commercial insurance to reduce the
risk of substantial losses.
DEATON $ COMPANY, CHARTERED
REQUIRED SUPPLEMENTARY INFORMATION
DFATON & COMPANY, CHARTERED
CITY OF CHUBBUCK, IDAHO
BUDGETARY COMPARISON SCHEDULE
GENERALRUND
YEAR ENDED SEPTEMBER 30, 2006
Beginning budgetary fund balance
Resources
General property taxes and sales tax
Franchise fees
Intergovernmental
Parks revenue
Licenses, permits and fines
Grants
Fire protection and prevention
Leases and rents
Interest income
Other resources
Amounts available for appropriations
Charges to appropriations
General government
Law enforcement
Fire control
Building inspection
Street
Parks and recreation
Health and welfare
Total charges to appropriations
Other Financing Sources
Proceeds from sale of assets
Transfers in (out)
Ending budgetary fund balance
Budgeted Amounts
Original Final
$ 70,000 $ 70,000
3,128,731
163,822
598,771
49,100
253,000
95,131
55,869
22,500
5,000
1.,i nnn
4,J64,924
133,421
2,162,419
724,975
135,976
709,747
570,886
17,500
4,454,924
24
3,128, 731
163,822
601,318
49,100
253,000
395,131
55,869
22,500
5,000
13,000
4.687.471
133,421
2,162,419
1,024,975
135,976
712,294
570,886
17,500
4,757,471
See accompanying notes to financial statements
Actual
Amounts
0 414,U40
3,197,644
173,551
605,362
45,490
332,807
255,864
138,651
28,179
13,016
€ ,927
4, luu'uul
128,779
2,114, 640
1,028,598
138,923
777,590
651,434
11,585
4,851,549
10,090
(2,555)
7,535
Variance
Positive
(Negative)
$ 404,048
68,913
9,729
4,044
(3,610)
79,807
(139,267)
82,782
5,679
8,016
(4,473)
111,620
4,642
47,779
(3,623)
(2,947)
(65,296)
(80,548)
5,915
(94,078)
10,090
(2,555)
7,535
$ 429,125 $ 429,125
DEATON & COMPANY, CHARTERED
CITY OF CHUBBUCK, IDAHO
BUDGETARY COMPARISON SCHEDULE
DEVELOPMENT FUND
YEAR ENDED SEPTEMBER 30, 2006
Beginning budgetary fund balance
Resources
General property taxes and sales tax
Interest income
Grants
Amounts available for appropriations
Charges to appropriations
Development fund
Other Financing Sources
Transfers in (out)
Ending budgetary fund balance
Budgeted Amounts
Original Final
Variance
Actual Positive
Amounts (Negative)
$ 399,335 $ 399,335
1,180,000 1,180,000 1,242,751
62,751
- - 21,455
21,455
- - 35,657
35,657
1,180,000 1,180,000 1,299,863
119,863
1,180,000 1,180,000 1,165,895
14,105
T 2,555 2,555
W
See accompanying notes to financial statements
$ 535,858 $ 535,858
DEATON & COMPANY, CHARTERED
CITY OF CHUBBUCK, IDAHO
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
SEPTEMBER 30, 2006
NOTE 1 - EXPENDITURES IN EXCESS OF BUDGET
Fire Control
The City did not budget a sufficient amount for fire control expenditures. Building and remodeling
expenditures were not accounted for in the budget.
Buildinq Inspections
The City did not budget sufficient amounts for salaries, supplies, training and maintenance
expenditures within the building inspection's operating expenditures.
Street
The City did not budget a sufficient amount for salaries, supplies, training, maintenance and other
expenditure within the street expenditures.
Parks and Recreation
The City did not budget a sufficient amount for playgroud equipment expenditures within the park and
recreation's budgeted expenditures.
Street Guarantee
The City did not budget a sufficient amount for reimbursement expenditures within the street
guarantee's budget.
Revenue in Excess of Budge
Expenditures in excess of budget were paid for by non -budgeted revenues and decreased
expenditures in other functional expenditures.
DEATON S COMPANY, CHARTERED
OTHER SUPPLEMENTARY INFORMATION
DEATON & COMPANY, CHARTERED
U)
❑
a1
O
O
Z
a!
2 w �'
J
`n
❑(q� C
iC
Y(wjZN
LL,
amCV)
aa)
U)
Z
❑ m W m
L C-00
U Z�
V -
0 a.
.�
0 LU
C
U)
V UO
64
Z
O
T
z
m
r --
CN N
PC
co d m
m
w
It
`n
m(LOp
c�
OM
L C-00
Jco
V -
.�
z
C
U)
E1T 6 }
64
a
T
r
m
0
m o
0
d LL
m m
LL >
o
0
(n
u
0
rn rn
cl
N
a
0 '0
M m
cn
LLCL
U �
�
G
GPJ-
� o
0
:3 r-
m
0 3
m 00
00
C? U-
}
6"Y
m
m
co
a
co cD
Lp
w LL
E9 19-
H3
7Eco
m
CC)
c° (D
w
co
❑
r ~
LL
LID
T
rg sfr
�
a}
Il- CA co
[D
++
r r m
N C= N
(�
N
�Lo
T c
LO
O
:3M LL.
m
M
r --
CN N
PC
cr
w
c�
Jco
W
.�
C
U)
al )
a
0�
Z Q�
LL >
E
U
N
a
N N
C6 >
C/)
C
U �
�
r --
CN N
PC
N
LU
U
z
¢
Ln
z
LL
z
LLI fn
❑
zzQ
_
LL N
F
Yawn
Lu z W
D LU
LLI
2 &)
0
LL LLI
LU0
� LLJ <
L)�ow
z z
LU
LLL
K
LL
0
F
z
LU
2
uu
F
a
F
N
co
N
CD LO
N m
I'
dt
O
r~
CO
O
2
0 CD
LO 07 o ao
07
m
o
o
m
m
LO
(D
cu
E
O N a)
00
T
O
F . r
LO m
07
607
LO
m
O LL
LO
z
64
0
C:)
N a
O N
0
m
O
O
cm-•
N
O
(D
ti
L
O C
0
N
N
(
O
LL L
T O
O
N
N
00
r
O
N
m
Ea
6g�
Nco
coCn
m
O
O
'Q 0
'
IG G) C
�—
T
00
M
-6m
m
m
LL. M L
L0
4
�
64
' O
c
O
O
m
r~
O
_
m m
Cs)
CO
CA
CD
O
m
O 3
m i[7
00
N
N
CD
r-
m
U LL
ti
[70
64
N
N
ON
co
C
'
co
CU 4- m
d
64
64
r~ ' 0
m
'
'
m
CD
N
T
W orn
CD
co
of
ti
00
co
m❑v
LL
D
i
C) m
ti
m
m
M
CD -�
uJ 0 LO
a)
'Tr
co
CTD
Co
N
0Cp !=
CO T r�
CC7
N
N
CO
L
RLL
3
�
�n
r--
rl-
V
L
LO
m
63
6�
LU
U
z
a
LL,
a
z
m
x
❑
U
z
q�j
u7
❑
❑
J
c6LL
❑
Q
w
z
z
m
C:
LU
LCL
❑
��'
z
LU
Q ?
E- Q
a
z
❑�
za)a)
C
z Cil
x
z
z_
c9
z
{�
a❑O
a. C)
F-
❑
LU
LY
w
z
130
LLL
co
N
CITY OF CHUBBUCK, IDAHO
BUDGETARY COMPARISON SCHEDULE
NONMAJOR GOVERNMENTAL FUNDS
YEAR ENDED SEPTEMBER 30, 2006
Beginning budgetary fund balance
Resources
General property taxes and sales tax
Interest income
Donations
Other resources
Amounts available for appropriations
Charges to appropriations
Street guarantee fund
General LID fund
Juvenile referral fund
Court fund
Road projects fund
Parks fund
Total charges to appropriations
Ending budgetary fund balance
Budgeted Amounts
Original Final
15,000
8,200
50,000
An nnn
15,500
3,000
500
41,000
1,200
52,000
113,200
15,000
8,200
50,000
40,000
113,200
15,500
3,000
500
41,000
1,200
52,000
113,200
29
See accompanying notes to financial statements
Actual
Amounts
$ 551,307
6,500
22,965
98,028
59,897
187,390
72,434
2,610
22,000
97,044
$ 641,653
Variance
Positive
(Negative)
$ 551,307
(8,500)
14,765
48,028
19,897
74,190
(56,934)
3,000
500
38,390
1,200
30,000
1F 1AR
$ 641,653
DEATON & COMPANY, CHARTERED